First Planned Deployment of 500kW Inductive Charger to Power Electric Trucks in Cold Climates
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Salt Lake, UT, Jan. 16, 2024 (GLOBE NEWSWIRE) -- WAVE Charging, a wholly-owned subsidiary of Ideanomics (NASDAQ: IDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles, today provided an update on its 500kW ultra-fast wireless charging system developed in conjunction with Cummins and the US Department of Energy.
This first-of-its-kind high-power, ultra-fast wireless charging system fully charged a class 8 electric truck in less than 15 minutes in a previously announced series of successful tests, heralding a future where fleet operators could realize near continuous electric vehicle uptime. To illustrate the speed and power of this technology, a typical household in the United States uses approximately 30kWh of electricity per day. A 500kW charger could theoretically supply a day's worth of energy to a home in just 3.6 minutes, or provide a full day’s worth of energy to 400 homes. And this energy is transmitted wirelessly at a comparable level of efficiency to wired charging.
WAVE has continued development work on the system and work toward its deployment. In partnership with Cummins Inc., Venture Logistics, and the US Department of Energy it plans to deploy and demonstrate the innovative 500kW wireless inductive charger to move cargo at a Venture Logistics facility in the Midwest. Venture Logistics is a privately held, full-service logistics company. As part of this initial project, the WAVE 500kW system will power two Class 8 electric trucks. This deployment is planned for Q1 2024.
Supported by an $8.4 million U.S. Department of Energy grant, the WAVE Wireless 500kW charger is being deployed as part of a consortium project. The innovative high-power wireless charging systems will help operators to more easily meet zero-emission goals with minimal impact on operations, thus helping to improve the air quality in and around ports, warehouses, and distribution centers.
The project with Venture Logistics is a further example of how high-power wireless charging is bringing zero-emission capabilities to cold climates where ice and snow create challenging transportation environments, eliminating the need to handle heavy high-power charging cables at low temperatures.
More than 12 million medium and heavy-duty trucks are in service today in the U.S., most are still powered by polluting combustion engines. The Inflation Reduction Act (IRA) provides more than $75 billion in programs and tax credits for electrification giving fleet operators the confidence to transition faster. Several of these programs and incentives include specific designations to electrify heavy-duty vehicles operating in disadvantaged communities and warehouses.
Seeing as the transportation industry is the largest contributor (27%) to greenhouse gases in both the US and Europe, with medium- and heavy-duty trucks contributing the most emissions at around 26% of the transportation industry. It’s one of the biggest priorities to convert to zero-emission battery electric vehicles (BEVs).
“Our demonstration project with Venture Logistics will show that for medium- and heavy-duty vehicles that demand perpetual operations and require charging infrastructure, wireless charging is the most effective solution at scale,” said Robin Mackie, COO of Ideanomics, WAVE’s parent company.
Benefits:
Embedded in the road surface, the WAVE Wireless system charges the truck batteries quickly and conveniently during regularly scheduled stops without the need to handle heavy high-power cables.
The speed and convenience to which high-power charging is available means charging can occur within the vehicle’s demanding duty cycle, allowing the battery-electric trucks to match the duty cycle of their fossil-fueled internal combustion engine (ICE) counterparts.
The pavement embedded systems have no moving parts, which equates to low maintenance and high availability.
Unlike legacy plug-in charging systems, the WAVE Wireless systems are flush to the ground reducing the risk of collisions with vehicles in an already busy and congested area.
The risks of trips and falls associated with cables are eliminated.
“We're demonstrating that electric heavy-duty vehicles can operate continuously, recharging during their regular operations,” said Robin Mackie. “The advantages of this technology are evident: fleet operators enhance efficiency by eliminating vehicle downtime spent refueling or connecting to a central depot.”
Wireless charging is the ideal solution for any fleet operator with vehicles moving along a fixed route. In logistics, where minutes and seconds count, fully automated and unobtrusive high-power wireless charging keeps vehicles powered up during regularly scheduled stops across a variety of challenging weather conditions. Additionally, it allows for smaller batteries and fewer chargers, resulting in reduced vehicle weight and costs.
WAVE Charging is a flagship wireless charging technology and is committed to supporting its ongoing development and deployment. This includes exploring opportunities to incorporate wireless charging into the design of the company's next generation of electric vehicles.
About WAVE, Inc.
Founded in 2011, with systems available from 125kW through to ultra-high power, WAVE delivers made-in-America wireless EV charging systems for the commercial fleet sector. With a global-leading number of high-power, rigorously proven inductive charging systems deployed, WAVE provides commercial fleet operators with a faster, easier, and future-proof way to extend the range of medium- and heavy-duty electric vehicles without the hassle and inefficiency of operations experienced with with with cable and pantograph charging systems.. Learn more at www.waveipt.com.
About Ideanomics
Ideanomics is a global group with a simple mission: accelerating the commercial adoption of electric vehicles. By bringing together vehicles, charging and financing solutions under one roof, we are the one-stop partner needed to simplify the transition to and operation of any EV fleet. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit https://ideanomics.com.
About Venture Logistics
Headquartered in Indianapolis, IN, Venture is one of the nation’s largest privately held, full-service logistics companies. Venture is comprised of complementary business units that offer over-the-road and dedicated truckload operations, freight brokerage, 3PL and supply chain optimization services. Venture also has a warehouse footprint of 1M sq. ft.
www.venturelogistics.com
About Cummins
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel and natural gas engines to hybrid and electric platforms, as well as related technologies, including battery systems, fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana (U.S.A.), since its founding in 1919, Cummins employs approximately 62,600 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves customers in approximately 190 countries and territories through a network of approximately 600 company-owned and independent distributor locations and over 7,600 dealer locations and earned about $2.1 billion on sales of $23.8 billion in 2018. See how Cummins is powering a world that’s Always On by accessing news releases and more information at https://www.cummins.com/always-on. Follow Cummins on Twitter at www.twitter.com/cummins and on YouTube at www.youtube.com/cumminsinc.
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Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
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